Marketplace lending

State student loan authorities sense a business opportunity helping graduates who are gainfully employed lower their payments. Their low-cost funding could put them in competition with banks and marketplace lenders.

Lending Club has revised its loan sales data for the last week of May after discovering that the numbers included loans that it actually bought itself.

The federal agency expressed skepticism about industry-developed standards Thursday, suggesting that there is currently no way to enforce the rules or punish bad actors.

With its very survival at stake, the San Francisco-based marketplace lender is balancing key priorities that are sometimes in conflict with each other.

Fintech firms and banks should collaborate on using alternative data sources to qualify more borrowers for small-dollar loans.

LendingClub abruptly adjourned its annual shareholder meeting Tuesday, saying it wasn't ready to address investors after a leadership shakeup last month. It also overhauled criteria for the consumer loans it arranges online.

LendingClub, under pressure to bolster investor confidence in the loans it arranges online, is boosting interest rates and tightening criteria for borrowers to qualify.

New York's financial regulator has ordered 28 online lenders to disclose whether they offer loans to state residents and to describe the types of financing they provide.

The regional bank has extensively studied the viability of such platforms, but has been unable to develop a plan to fits its risk appetite.

The Independent Community Bankers of America said that it agrees with the Office of the Comptroller of the Currency’s support for “responsible innovation” in fintech but that it worries marketplace lenders have a “regulatory advantage.”

The Consumer Financial Protection Bureau will unveil sweeping federal regulations Thursday for payday lenders that could open the door for competition from banks, while forcing lenders to move toward longer-term installment loans. Here's what to track when the plan is released.

The pricing of student loans, and higher-ed degrees themselves, should have more to do with the proven earning power of a university's graduates in the eyes of some innovators. Big data could play a huge role.

The idea that restricted access to loans for poor-credit borrowers is unequivocally a bad thing is based on industry talking points that don't stand up to real-world scrutiny.

LendingClub, the online loan platform looking to restore investor confidence, is in talks with Citigroup to arrange more funding for the debts it arranges, according to a person with knowledge of the matter.

The Obama administration and an independent federal banking agency are advising the Supreme Court not to review a lower-court ruling that has roiled the marketplace lending sector and caused consternation throughout much of the consumer finance industry.

During the ascension of marketplace lending, banks responded to the competitive threat in several different ways. Now some banks are better positioned than others to take advantage of the online sector's recent woes.

The nascent industry's early success will mean very little if these new companies don't take necessary steps to position themselves for the long term.

Banks and nonbanks should accept that more fintech regulation is inevitable, but how far regulators go will depend in part on how well companies demonstrate they are managing risk.

One of the country's largest online lenders is cutting jobs and shelving expansion plans in response to investors' rapid retreat from the beleaguered sector.

New York's bank regulator is investigating LendingClub Corp. over loans issued to consumers and its relationships with financial institutions, saddling the embattled company with another probe after its chief executive was forced to resign earlier this month.